PI Industries Clocks Decline in Fiscal Q4 Consolidated Net Profit; Shares Plummet 7%

MT Newswires Live05-20

PI Industries (NSE:PIIND, BOM:523642) said its consolidated net profit dropped to 2.00 billion Indian rupees in the fiscal fourth quarter from 3.31 billion rupees a year ago, according to an Indian bourse filing on Tuesday by the agri-sciences company.

Shares of the company plunged nearly 7% in Wednesday's trade.

Earnings per share during the quarter March 31 slipped to 13.20 rupees from 21.78 rupees a year earlier.

Revenue from operations in fiscal Q3 also dropped to 15.7 billion rupees from 17.9 billion rupees a year ago.

Additionally, the company's board recommended a final dividend of 10 rupees per share for the fiscal year ended March 31.

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